Executive Mosaic is happy to announce that Lynn Bamford, president and CEO of the Curtiss-Wright Corporation, has received a 2021 Wash100 Award. She has secured a Wash100 Award for her leadership and strategic vision to drive growth for the company heading into 2021.
This marks the first Wash100 Award for Bamford in her long career that spans more than three decades across the defense, aerospace and commercial industries. Bamford joined Curtiss-Wright with its acquisition of Dy4, a leading provider of Commercial Off-The-Shelf (COTS) embedded computing solutions, in 2004.
Bamford climbed the corporate ladder in the company until Jan. 2020 when she was appointed as the president of its Defense and Power segments. She played a pivotal role in executive strategic growth initiatives, driving significant operating margin expansion and free cash flow generation, which was enhanced by integrating seven high profile acquisitions.
In Dec. 2020, Curtiss-Wright announced that Bamford would succeed David Adams, who retired officially in Jan. 2021, as the company's president and CEO. The succession plan revealed that Adams would remain the executive chairman of the board until May 2022 when Bamford would assume the dual role of chairperson and CEO.
“I am deeply honored by this tremendous opportunity to lead such an iconic company, said Bamford. “I look forward to continuing to work closely with our experienced leadership team and Board, as well as the incredibly talented members of the Curtiss-Wright team, to advance the One Curtiss-Wright vision and build upon our strong track record of growth and profitability.“
“Lynn's promotion to CEO is incredibly well-deserved,“ said Adams. “The Board and I have the utmost confidence that Lynn's experience in executing our strategic growth initiatives, driving significant financial performance and integrating numerous defense acquisitions, makes her the ideal choice to lead the company into the future,“ he added.
Curtiss-Wright reported its 4th quarter results on Feb. 24th showcasing the company's strong growth in defense market sales, the benefits of restructuring savings and achieving record adjusted free cash flow. A handful of key moves and acquisitions also influenced those positive results.
Most notably, the company acquired PacStar (Pacific Star Communications) for $400 million in cash in order to grow its tactical communications technology offerings for the U.S. military.
“As we reflect on Curtiss-Wright's performance in 2020, I am proud of the team and their agility, resilience and focus to achieve exceptional results in a very challenging year,“ said Bamford.
The combined firm plans to integrate PacStar’s software and hardware offerings with Curtiss-Wright’s commercial off-the-shelf data processing and management platforms to support the U.S. military’s modernization efforts.
“Looking ahead to 2021, we are projecting mid-to-high single digit growth in sales, Adjusted operating income and Adjusted diluted EPS,“ Bamford explained. “This is the first step, ahead of our planned May 2021 investor day, in communicating our new vision and strategy which will drive long-term profitable growth and deliver significant value for our shareholders.“
Most recently, Kevin Rayment will be promoted to serve as the company' COO following Thomas Quinly retirement from the role on April 1st, 2021, Curtiss-Wright announced on Feb. 25th.
“He [Rayment] continues to play a key role in executing our strategic growth initiatives, delivering significant financial performance and integrating acquisitions, said Bamford. “I look forward to continuing to work closely with Kevin and remain confident that his agility and consistent track record will allow him to carry out the company's profitable growth strategy and drive further success for Curtiss-Wright.“
Executive Mosaic congratulates Lynn Bamford for receiving the most prestigious and coveted award in all of government contracting (GovCon). Her commitment to Curtiss-Wright's growth strategy perfectly aligns with the drive and vision that the Wash100 Award hopes to recognize in the most significant executives of consequence to the GovCon and federal sectors.
About The Wash100
This year represents our eighth annual Wash100 Award selection. The Wash100 is the premier group of private and public sector leaders selected by Executive Mosaic's organizational and editorial leadership as the most influential leaders in the GovCon sector. These leaders demonstrate skills in leadership, innovation, achievement and vision.
Visit theWash100 site to learn about the other 99 winners of the 2021 Wash100 Award. On the site, you can submit your 10 votes for the GovCon executives of consequence that you believe will have the most significant impact in 2021.